New Delhi, March 11 -- The adoption of Generative AI (GenAI) does not possess any existential threat to the Indian IT services industry, while the recent sharp correction in the IT stocks has made valuations highly appealing, according to Nuvama Institutional Equities.

The brokerage firm remains positive on the Indian IT sector from a medium to long-term perspective, although it believes near-term volatility may persist.

Nuvama quoted Mark Twain who once said "reports of my death are greatly exaggerated" as the current state of the Indian IT industry.

"We see no existential threat from Gen-AI, as we believe the requirement for a system integrator - which can customise an enterprise' plug-and-play software's input and output as per its ...